The company Definity Financial Corporation has announced the formation of two new business units, as well as the transition of its core insurance platform to a solution hosted on the Guidewire Cloud. In order to accommodate the new business segments, the roles of several of the company’s leaders have been expanded.
The insurance company has recently launched a new personal insurance & digital channels unit, and Paul MacDonald has been selected to serve as the unit’s head. MacDonald will take on the newly expanded role of executive vice president, personal insurance & digital channels, while Donna Ince has been promoted to the position of senior vice president and chief underwriting officer of personal insurance. MacDonald will assume the responsibilities of this newly expanded role. Since May 2021, Ince has been an employee of the organization. During that time, she has been an integral part of the “overall enhanced performance” of the personal insurance business throughout all areas in Canada, and she has also been in charge of Petline Insurance.
In addition, Definity has increased the scope of its commercial insurance and insurance operations in order to speed up its expansion. According to a press statement, Fabian Richenberger has been given the position of executive vice president of commercial insurance and insurance operations. His primary responsibility will be to continue the “good momentum” the firm has been experiencing in the commercial insurance sector. As part of his new responsibilities, he will be responsible for managing insurance claims as well as sales and distribution for both commercial and individual policies. Additionally, Obaid Rahman has been elevated within the organization to the position of senior vice president and chief underwriting officer of commercial insurance. Since joining Economical Insurance, a company owned by Definity, in 2018, Rahman has been instrumental in the company’s efforts to reform its commercial insurance product offering.
“Definity has a strong leadership team that has successfully enhanced operations, delivered significant business improvements, and set a solid foundation as a public company,” said Rowan Saunders, president and CEO of Definity. “Definity has a strong leadership team that has successfully enhanced operations.” “We have started the next phase of our expansion, and we are developing our organization with full confidence in preparation for the future.”
In addition to these appointments, Definity has revealed that it has successfully migrated its Economical digital broker service, Vyne, as well as its digital direct platform, Sonnet, to the Guidewire Cloud. This news was made public today. According to a press statement issued by the company, it is the first P&C insurer to have its primary insurance platform make use of the capabilities offered by Guidewire Cloud.
Tatjana Lalkovic, Senior Vice President and Chief Information Officer at Definity, stated that the company’s primary objective is to “become Canada’s top digital insurer prepared for sustained development and profitability.” The modernization of our core infrastructure will allow for increased opportunities for agility, scale, and innovation in collaboration with Guidewire’s partner ecosystem.